Barclays Plc may fetch $150 million to $250 million for its U.S. wealth unit, according to analysts at Credit Suisse Group AG.
Stifel Financial Corp. (SF) is in negotiations to buy the business from Barclays, Reuters reported May 29, citing three people familiar with the matter that it didn’t name. A purchase would make sense for St. Louis-based Stifel, which has expanded through a series of acquisitions, the analysts said Monday in a report.
“Such a deal would be right up CEO Ron Kruszewski’s playbook — buying a troubled franchise from a motivated seller,” the analysts led by Christian Bolu wrote. “Strategically, the deal would round out Stifel’s wealth-management offering.”
Mark Lane, a spokesman for London-based Barclays, declined to comment, while Stifel’s Sarah Anderson didn’t immediately respond to a message seeking comment.
[Editor's note: Acccording to several other news sources, Sterne Agee — which now has 2,097 financial advisors — could have nearly 2,350 advisors if it buys Barclays Wealth Americas.]